COLUMBUS, Ohio (WCMH) — The U.S. stock market fell Tuesday to its lowest point so far this year.   

Nationwide Chief Market Strategist Mark Hackett said the drastic changes are unnerving to see, but said it’s too early to tell if there will be a recession. 

“Sometimes you can get this vicious circle where people feel bad, so they start pulling back on spending,” Hackett said. “That could cause companies to pull back on spending. That’s how you could get yourself into a recession. But again, a little too early to make that determination.” 

Hackett said the 10% drop in less than three weeks, the fastest decline since the Bear Market of 2022. He added that the drop is focused on the tech-heavy NASDAQ, which is down about 15% in two weeks, something that hasn’t been seen since the COVID crash. 

The broader stock markets, he said, there is less of a drop, adding that international stocks are significantly higher. 

Hackett said the market is obviously still going to be volatile at this time, saying investors will probably have to wait a little to see some resolutions on the largest factors causing these drops like the tariffs set by President Donald Trump. He said he knows confusion and uncertainty often causes people to want to pull away from the market, but said he cautions people about making an emotional decision.  

“Time out of the market is oftentimes just as risky as being in the market, you know, so despite this very disruptive time, we counsel people to stay informed, stay vigilant, but try and avoid reacting on emotion,” Hackett said. “You know, those investors with a long-term plan may actually see this as an opportunity to add equity positions.” 

Hackett said this is an emotionally driven market and while it feels painful right now, it is not yet time to panic.